Is Fxprime Fraud, trustworty or chancy

By CD, from Sweden, March 10, 2020 at 10:15 AM

Hi, I was called on the phone and asked to invest in autobroker Synergy Capitals ( Then I was passed to a broker at telling me they used Synergy Capitals for autobroker and fxprime for brokerteams. On FXPRIME compliance it States: Royal Gates LTD Reg Num 25705BC2019 Suite 305, Griffith Corporate Centre, Beachmont Street, Kingstown, St. Vincent and the Grenadines. The website sais UK laws are followed and that they follow the UK guidelines set by UKs Joint Money Steering group. I can not find anything else about finansial regulations. Are both and frauds? I know you have warning about all based in St. Vincent and the Grenadines but are they even approven by SVG? If they are frauds I hope you put them on the warninglist to warn others.

Answer: Hi CD,

FXprime is an offshore forex broker registered in St. Vincent and the Grenadines. As we keep on reminding St. Vincent and the Grenadines’ Financial Services Authority does not regulate forex trading, so this broker is definitely not regulated there.

In addition, we couldn’t find any information about FXprime being regulated in the UK, despite the fact that they state they are authorised there and provide UK contact phone numbers.

We recommend you to stay away from FXprime and do not invest with this company. It is not a safe option at all.

You can check the list of the well-regulated Forex brokers.


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